Pandora Acquires Bankrupt Rdio For $75 Million

OAKLAND, CA (Hypebot) – Consolidation in streaming music has begun, though perhaps a bit earlier than expected. Pandora is acquiring "the technology and intellectual property" of streaming music service Rdio for $75 million, and will use the assets to compete with Spotify, Apple Music and others.

For Pandora, whose user growth has slowed to 3%, it is a bid to find new avenues of expansion. Pandora is also eyeing international growth, and several news outlets have reported ongoing negotiations with major labels. The Rdio acquisition also enables Pandora to enter new markets with a more robust offering.

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